Spending on Circuit Breakers and Fuses to Reach US$31.11 bn Globally by 2021

Spending on Circuit Breakers and Fuses to Reach US$31.11 bn Globally by 2021

The thriving industrial and construction sector in global will open new growth avenues for the circuit breakers and fuses market, taking it to a valuation of US$31.11 bn by 2021. These are the findings of a new study by Transparency Market Research. According to the report, titled ‘Circuit Breakers and Fuses Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021’, the market will have a CAGR of 6% between 2015 and 2021. In 2015, the market for fuses and circuit breakers stood at US$20.75 bn.

Circuit breakers render added safety to electrical circuits by cutting off the flow of electricity in the event of an overload or a short circuit. Fuses, on the other hand, are sacrificial components that melt so as to impede the flow of electric current in a circuit if the safe level is exceeded. The soaring demand for reliable electrical components that can serve the needs of an expanding electrical infrastructure in growth markets will bode well for the overall circuit breakers and fuses market.

What also ensures steady growth for the global market for circuit breakers and fuses is that the use of these components—typically referred to as electrical device protection components—is mandated by law in most countries. According to a TMR analyst, “The demand for innovative and compact circuit breakers and fuses is expected to reach a tipping point with the commercial acceptance of solar energy devices, smart meters, and electric vehicles. Companies can expect massive growth by catering to these emerging areas.”

In this study, TMR analysts have segmented the circuit breakers and fuses market regionally into North America, Asia Pacific, Europe, and Rest of the World. North America took the lead in the circuit breakers and fuses market globally in 2014, accounting for 34.8% of the total market. The escalating demand for electricity will help keep the North America fuses and circuit breakers market on the growth track.

Furthermore, the report also segments the circuit breakers market on the basis of voltage level of installation into low-voltage, medium-voltage, and high-voltage circuit breakers. Of these, low-voltage circuit breakers accounted for the largest share in the circuit breakers and fuses market as of 2014 thanks to their massive use in power grids.

The circuit breakers market is also segmented using arc quenching media type as a criterion. Segmented thus, the market is composed of: vacuum circuit breakers, SF6 circuit breakers, air circuit breakers, oil circuit breakers, and circuit breakers for other media.

Likewise, the global fuses market is segmented on the voltage level of installation into two types: low-voltage and high-voltage fuses. The low-voltage fuses market is sub-segmented into cartridge fuses and plug-in fuses. The report also studies the circuit breakers and fuses market on the basis of application, segmenting it thus: Automotive, industrial, construction, power generation, consumer electronics, and others (military and healthcare). The demand for both fuses and circuit breakers was seen to be highest from the power generation segment, which stood at US$5.41 bn in 2014. With a progressive upswing in energy needs across the world, the power generation sector will continue to consume fuses and circuit breakers in sizeable quantities.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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